Opthea's successful completion of retail entitlement offer

Opthea Limited (ASX: $OPT) has successfully completed the fully underwritten retail component (Retail Entitlement Offer) of its 1 for 1.22 pro-rata accelerated non-renounceable entitlement offer (Entitlement Offer) of new fully paid ordinary shares in Opthea (New Shares). The Retail Entitlement Offer closed at 5:00pm Melbourne time on Wednesday, 10 July 2024, raising approximately A$55.9 million (US$36.9 million).

Executive commentary on completion of retail entitlement offer

The completion of the retail entitlement offer represents a significant milestone for Opthea as it marks the final stage of the company's approximately A$227.3m (US$150.0m) capital raising. The successful uptake by eligible retail shareholders demonstrates confidence in Opthea's vision and potential for addressing unmet needs in the treatment of retinal diseases.

Summary of Opthea's announcement

Opthea (ASX: $OPT) has concluded the A$55.9m retail entitlement offer, following the successful institutional entitlement offer and institutional placement, raising approximately A$171.5m. The completion of the retail entitlement offer represents the final stage of Opthea's approximately A$227.3m capital raising. New shares and options are expected to commence normal trading on Thursday, 18 July 2024. Opthea, a biopharmaceutical company, is focused on developing novel therapies to address prevalent and progressive retinal diseases, including wet age-related macular degeneration (wet AMD). The company's lead product candidate, sozinibercept, is being evaluated in pivotal Phase 3 clinical trials for use in combination with standard-of-care anti-VEGF-A monotherapies. Opthea's successful capital raising reflects its commitment to advancing the development of potential treatments for retinal diseases and enhancing vision outcomes for patients worldwide.